Market Disruptions and Fed Responses Amid Low Bank Reserves

Canadian prime minister Justin Trudeau apologises for wearing brownface makeup at a private school party after Time magazine published a yearbook photo from 2001, Cisco chief executive Chuck Robbins dismisses fears of a breakdown in global supply chains, saying he expects Washington and Beijing to reach a deal ending their trade war, KPMG UK plans to cut hundreds of staff in a wave of cost-cutting, and shares in FedEx tumbled on Wednesday, a day after the company reported its weakest sales growth in a decade. Plus, the Federal Reserve cut US interest rates by a quarter point on Wednesday. Our US economics editor, Brendan Greeley, unpacks the move.

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